September M&A Roundup: Rexel, Watsco, ORS Lead the Way
Get our rundown of every deal we published during September, along with our updated monthly deal count and breakdown of year-to-date transactions by product category.
October 1, 2026
It’s already been a busy year for GME, which made a CEO succession in January and appointed a new COO in April.
It nets Ferguson nearly two dozen branch locations between two traditional distributors and four manufacturers rep agencies in for the company’s Waterworks, HVAC and Industrial units. We detail who these six companies are here.
Deals involving industrial distributors were less frequent than the robust pace we saw in January-March, though it included another landmark pending transaction in building materials via QXO.
All three company geographies were in positive sales territory for the first time in 11 quarters. Meanwhile, the company closed on a Canadian acquisition that added about $61 million of revenue.
The deal nets Watsco 25 Sunbelt locations and $230 million in added revenue.
FIS serves a range of industrial sectors that include oil and gas, renewables, marine, hospitality and logistics.
The acquisition expands Tencarva’s reach in municipal end markets in Texas and Oklahoma.
Acquired from Madsen & Howell, it’s A&M’s largest addition to-date, and comes on the heels of it launching a new eCommerce website in March.
It’s the second-largest purchase price we’ve ever seen in the market behind Home Depot’s $18 billion SRS deal and caps a remarkable 12-month span of aggressive growth for QXO.
It follows a pilot of SIMPL’s technology at a Georgia HD distribution center.
It’s the second announced deal in as many weeks for Hillman, growing its presence in the U.S. Southeast.
They mark the third and fourth deals Heritage has already completed in 2026, expanding its footprint of 240 locations across 37 states.
